The solution says The price of the call option is 29.5031 × 0.6205 − 29exp(−0.125×0.05) × 0.5645 Why is the time to maturity 0.125 (1.5 months) instead of 0.3333 (4 months)? Also, would it be correct to use the Black-Scholes formula with dividend rate q for this question? I assume the solution doesn't use it because the dividend is paid at a discrete time rather than continuously? Thanks
